Patterns & Promises

We have a dangerous pattern taking shape: President Obama speaks - the markets go down.

There are two explanations that occur to me:
1) The market is in a spiral and will go down no matter who speaks.
2) President Obama continues to add mystery to future instead of clarifying plans.

Last night our president gave a very rousing speech. He was hopeful and strong in his delivery. He stated his goals for moving forward, goals that made a lot of sense in the context of his speech. But he failed to give any clear idea of how we will get there, leaving markets with the big question of "How will we pay for all of this?".

The only area mentioned that would generate money was the tax increase for families making more than $250,000 per year. Most of American will feel good about that. Unfortunately, most of America aren't serious investors. Most families, or individuals, that invest with any effect in the markets, make more than $250,000 per year.

Last night was a great pep talk, but I am far from assured that we are on a path that offers relief. Instead I have new fears about big government plans to ask for much more bailout money for banks. I have fears that I, as a responsible tax payer, am being asked to sacrifice while the UAW and Wall Street do their best to get back to the old way that seemed to pay them so well. And frankly, I'm not impressed.